Revolving Loan Funds

  • Black Hawk IRP Program

    • Black Hawk Economic Development, Inc.
    • 304 South Street, P.O. Box 330
    • Waterloo, Iowa 50704
    • 319-235-2960
    • Email:
    • Web:

    This low-interest loan program assists business with the acquisition of real estate, purchase of machinery & equipment, building improvements and working capital.  The IRP Program services all of Grundy County.

  • Butler & Grundy County Rural Electric Cooperative

    • Rick Whalen, Economic Development Manager
    • 521 North Main Street, P.O. Box 98
    • Allison, Iowa 50602
    • 1-888-267-2726

    This low-interest loan program assists new or expanding private businesses, local governments, and non-profit community development organizations.  Eligible uses include land purchases, buildings, fixed assets, m&e, residential housing projects, and working capital.  The minimum loan is $5,000.

  • Grundy County 535 RLF Program

    • Grundy County Development Alliance
    • 705 F Avenue, PO Box 85
    • Grundy Center, IA 50638
    • 319-825-3606

    This new revolving loan program was created to assist small and emerging businesses in the county. This program can be used for retail and service businesses, among others. The interest rate will be around 3% and there will be a maximum repayment term of 5 years. The maximum loan amount is $5,000.  

  • Tax Increment Financing

    City councils or county boards of supervisors may use the property taxes resulting from the increase in taxable valuation caused by the construction of new industrial or commercial facilities to provide economic development incentives to a business or industry. Tax Increment Financing may be used to offset the cost of public improvements and utilities that will serve the new private development, to finance direct grants or loans to a company, or to provide the local match for federal or state economic development assistance programs.